Hero Motocorp, the world’s largest manufacturer of motorcycles and scooters, is planning to launch its first electric vehicle (EV) product under its electric mobility brand 'Vida' around the festive season - which falls between last week of September and early November.

The company had earlier planned to launch its EV product in July. However, owing to prevailing Semiconductor shortage, the launch has been delayed.

The company expects the chip supply to improve around the festive season, and thus plans to launch its EV product during the period.

"In line with our philosophy of providing the highest quality products to our customers, we remain committed to bringing the best of Electric Vehicles (EVs) for our customers across the globe," Swadesh Srivastava, head of emerging mobility business unit (EMBU), Hero Motocorp, said in a statement on Wednesday (1 June).

"The ongoing geopolitical situation has resulted in enormous supply chain issues and shortage of various components, including semiconductors. Keeping customers as the top-most priority, we, therefore, feel it would be prudent to unveil the first EV product around the upcoming festive period instead of July as earlier announced. We are accordingly gearing up for the launch of VIDA – Powered by Hero – in the festive season," Srivastava added.